Abbott on track to split; posts higher earnings
Despite another challenging year for the global economy, US health care major Abbott (NYSE: ABT) again delivered leading performance, including strong sales and ongoing earnings-per-share growth, noted the firm’s chairman and chief executive Miles White, along with presenting fourth-quarter and full year financial results for 2011.
"2011 was a significant year for Abbott, with the announced plan to separate into two leading health care companies in research-based pharmaceuticals and diversified medical products, each offering shareholders distinct identities with unique investment opportunities. We remain on track to complete the separation by the end of 2012," said Mr White.
Along with reporting third-quarter results last year, Abbott announced its decision to split the business into two publically-traded separate medical products and research-based pharmaceuticals firms (The Pharma Letter October 20, 2011).
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